$75,000 each and a $10 MILLION 'Healing Fund': Bill Shorten promises massive compensation payout for Stolen Generation survivors if Labor wins next election - despite supporting the current date for Australia Day

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The initiative is set to commemorate the 10th anniversary of former Prime Minister Kevin Rudd apologising to indigenous Australians for the acts committed against their people throughout the 20th century.

'The Apology was so much more than a set of well-chosen words,' extracts from Shorten's Monday speech read, as reported by News.com.au.

'It was not just an expression of sorrow or regret, but a declaration of intent, a promise for action.'

The initiative is set to commemorate the 10th anniversary of former Prime Minister Kevin Rudd apologising to indigenous Australians for the acts committed against their people

Shorten will use the 'Healing Fund' as the next step in the process his predecessor started, saying it's time to match the apology with real action

Shorten will use the 'Healing Fund' as the next step in the process his predecessor started, saying it's time to match the apology with real action.

'They are still waiting for saying sorry, to be matched by making-good,' Mr Shorten will say today.

'It's time the Commonwealth lived-up to its rhetoric.'

Survivors in the Northern Territory and ACT will receive single payments of $75,000, and a further $7,000 for funeral arrangements.